AutoNavi (AMAP) to Acquire Under-Construction Premises in Beijing's Shunyi District for $42.9M
- Top 10 News for 11/17 - 11/21: Halliburton's Big Buy; Japan Back in Recession; China Cuts Key Rate
- China Cuts Benchmark Rate Amid Weaknening Growth Prospects; Markets React (FXI)
- Dow Chemical (DOW), Third Point Enter Agreement; Four New Independent Directors Added
- Large Cut from OPEC Would Be 'Self-Negating', Says Goldman Sachs
- UPDATE: Volkswagen AG (VLKAY) Will Invest EUR 85.6B Over Next 5Y in Auto Ops - Bloomberg
AutoNavi Holdings Limited (Nasdaq: AMAP), recently entered into a set of agreements to acquire under-construction premises with an aggregate gross floor area of approximately 27,000 square meters in the Industrial Park of National Geographic Information Technology in Beijing's Shunyi District. The location will serve primarily as AutoNavi's new map data facility, while also supporting the Company's overall expansion. The aggregate consideration for acquiring the new premises is approximately RMB270 million (USD42.9 million), to be paid in installments until construction is completed and accepted. Approximately 40% of the purchase price is expected to be paid by the end of this year. Pursuant to the agreements, the premises will be delivered to AutoNavi by the end of April 2014.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Dillard's (DDS) Urged by Marcato to Spin Real Estate Assets Into REIT - Bloomberg
- Friends Life said in talks with Aviva Plc (AV) about all-stock combination - Bloomberg
- Dollar General (DG) May Need to Sell More than Double the Locations to Close Family Dollar (FDO) Deal
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!